A study analyses the economic impact of the UC3M’s internationalisation activities
10/19/21
Internationalisation activities being undertaken by the Universidad Carlos III de Madrid (UC3M) generate around 85 million Euros and more than a thousand jobs per year within the Community of Madrid (CM). These are the results of a study carried out by the University’s Social Council that analysed the economic impact of internationalisation activities, which was presented today at the UC3M’s Madrid Puerta de Toledo Campus.
The study, undertaken for the first time at the UC3M and a pioneer within the university environment, aims to comprehensively assess the economic and social impact generated by the UC3M’s various internationalisation activities on the CM. In addition to this, the report also carries out a “pioneering analysis of the impact on economies in countries where students from the University undertake their international placements”.
The study was presented at a ceremony held in the Auditorium on the UC3M’s Madrid Puerta de Toledo Campus. This event was attended by the UC3M's President, Juan Romo, the President of the Social Council, Matías Rodríguez-Inciarte, the Deputy Counsel for Universities, Science and Innovation in the Community of Madrid, Fidel Rodríguez Batalla, and the Vice President for Internationalisation and European University at the UC3M, Matilde Pilar Sánchez, among others.
According to data contained in the report, the UC3M’s international activities in different institutional areas are a driving force for other agents that generate expenditure in the Community of Madrid, such as international undergraduate and postgraduate students, their families and friends who visit them, as well as people who attend scientific and technical events organised by the University.
This study focused on data from the 2018/2019 academic year, when the UC3M had a total of 22,861 students. The percentage of international students represents around 20% of the UC3M’s undergraduate students. This figure increases to 35% for Master’s students and is more than 40% for PhD students.
77.8% of the funds contributed to the local economy in Madrid by the UC3M’s internationalisation activities and their agents comes from students’ families. In turn, the European Union (EU) contributes 18.5% (17,901,230.80 Euros), while the Community of Madrid contributes 1.7% (1,642,183.90 Euros). Finally, private companies contribute 1.3% (1,229,395.10 Euros).
Overall, in terms of their economic impact, the internationalisation activities undertaken by the UC3M and its agents during the 2018/2019 academic year increased the Community of Madrid’s Gross Value Added (GVA) by 84,663,065 Euros and generated 1,139 full-time jobs. In this sense, every Euro the UC3M spent on its internationalisation activities, through the University’s and its agents capacity for mobilisation, increased the CM’s income (in terms of GVA) by 4.24 Euros.
In terms of the economic impact on the Community of Madrid produced by the UC3M and its agents’ internationalisation activities during the 2018/2019 academic year, students and their visiting friends and family generated 78.7% of the total increase in income and 77% of the full-time jobs were generated by these international activities.
More information:
Study on the economic impact of internationalisation activities at UC3M
